Documents Required

Monthly Purchase Bill

Monthly Sales Bill

Sales Return Details

Income tax return filing for Companies whose annual turnover is upto Rs.10 lakhs.

About this item

• Profit & Loss Accountant preparation

• Balance sheet preparation

• Dedicated Accountant Support

ITR 6 Filing Form

ITR 6 Form is to be furnished by the Companies to e-file the income tax returns if they are not claiming exemption under Section 11 of the Income Tax Act 1961. Under the Income-tax Rules, the Companies that can claim an exemption under section 11 are those that have income from the property that is held for the charitable or religious person.

Hence, ITR 6 is to be filed by the companies that do not claim an exemption under section 11.

Efiling audit reports

If in case the assessee is liable for the audit u/s 44AB and the accountant has audited the accounts, then the details of the audit report, the auditor along with the date of furnishing is to be sent to the department electronically.

Who is eligible to file ITR 6 Form?

• ITR 6 Form is to be filed by every company irrespective of its structure registered under the Companies Act 2013 or the earlier Companies Act 1956. However, the companies whose source of income comes from the property that is held for religious or charitable purposes are not required to file ITR 6 Form.

• If the sales, turnover, or gross receipts are more than Rs.1 crore in the preceding financial year the entity must get the accounts audited from a certified Chartered Accountant.

Who is not eligible to file ITR 6 Form?

The companies who have sources of income from religious or charitable organizations can seek exemption under Section 11. In simpler words, an entity that is seeking exemption under Section 11 should not file ITR 6 Form.

Structure of ITR 6 Form

ITR 6 is divided into Part A and Part B ( along with the sub-sections) with multiple schedules that include information relevant to the income and tax of the taxpayer. Let us have a detailed look at this.

Part A (and its subsections)

General information: This Sub-section should be filed with the basic details of the entity such as the Name, PAN number, address, CIN, Incorporation date, etc.

Trading Account: This sub-section requires the details that are relevant to the income and the expenditure of the company.

Balance sheet: This subsection should consist of the details of the balance sheet of the company such as the liabilities, current liabilities, share capital, and more.

Manufacturing account: This Sub-section required the figures of manufacturing the accounts relating to the inventory such as opening stock, closing stock, and cost of the goods that are produced.

Profit and Loss Account: This subsection should be filed with the details of the company's profit or the loss that is incurred during the relevant financial year.

Part B (and its subsections)

Part B-TI: Computation of Total Income

Part B-TTI: Computation of Tax liability of the Total Income.

Schedules

Purpose

Bank account details

Schedule –HP

For computing incomes under the head Income from House Property

Schedule –BP

For computing incomes under the head “profit and gains from business and profession

Schedule –DPM

For calculating depreciation on plant & machinery

Schedule –DOA

For a summary of depreciation on all assets

Schedule –DCG

For calculating the deemed capital gain on sale of depreciable assets

Schedule –ESR

Deductions u/s 35, i.e. expenditure on scientific research

Schedule –CG

For calculating income under the head “Capital gains”

Schedule –OS

For calculating income from other sources

Schedule –CYLA

Calculating the income after setting off the current year's loss

Schedule –BFLA

Calculation of income after setting off the unabsorbed loss of the previous year

Schedule –CFL

Statement of loss for carrying forward to a further year

Schedule –UD

Statements of unabsorbed depreciation and allowance

Schedule –ICDS

Income computation disclosure standards on profit

Schedule –10AA

Deductions u/s 10AA

Schedule –80G

Details of deduction u/s 80G relating to donations

Schedule –80 GGA

Statement of donations for scientific research and rural development

Schedule –VIA

Statement of deductions from total income under chapter VI-A

Schedule –SI

Details of income chargeable at special tax rates

Schedule –PTI

Details relating to passing through income from business trust or investment fund

Schedule –EI

Statement of exempted incomes

Schedule –MAT

Details of tax payable u/s 115JB (Minimum Alternate Tax)

Schedule –DDT

statement of tax paid on dividend, i.e. “dividend distribution tax”

Schedule –BBS

Details of tax distributed income on buyback of shares

Schedule –ESI

Statement of foreign incomes and tax relief thereto

Schedule –IT

Details on advance-tax paid and self-assessment tax

Schedule –TDS

Details of TDS on incomes other than salaries

Schedule –TCS

Statement of TCS (Tax collected at source)

Schedule –FSI

Statement of income accruing outside India

Schedule –TR

Details of tax relief claimed for foreign tax paid

Schedule –FA

Complete details of foreign assets and foreign income

Schedule –SH1

Details of shareholding of an unlisted company

Schedule –SH2

Details of shareholding of start-ups

Schedule –AL1

Statement of assets and liabilities at the end of the year

Schedule –GST

Statement of turnover reported for GST

Schedule –FD

Details of payment/receipt made in foreign currency

How to file ITR 6 Form?

The Income-tax department advises to fill the Income-tax returns in the following sequence:

• Part A ( and its subsection) All the Schedules

• Part B ( its subsection) Verification

This income tax return has to be filed online and is to be furnished electronically by affixing the DSC of the assessee. While filing the ITR 6 Form no document is required to be attached with return. ITR 6 Form is an annexure-less form.

The taxpayer is required to tally the data with the tax credit statement Form 26 AS regarding the tax deduction, collection, and payment.